The inauguration fund for U.S. President Donald Trump amassed a record $239 million, with a significant portion coming from the cryptocurrency industry, according to a report by the Federal Election Commission.
Forbes reporter Ben Weiss calculated that players in the digital asset sector collectively donated approximately $18 million.
crypto companies and execs donated $18 million to trump’s inauguration fund, according to sunday’s FEC filing:https://t.co/5wJo077vmT pic.twitter.com/XyNLwSyY6k
— Ben Weiss (@bdanweiss) April 21, 2025
Ripple Labs, contributing $4.9 million, ranked second on the overall list, trailing only the leading poultry producer Pilgrim’s, which donated $5 million.
Online broker Robinhood, which derives a significant portion of its revenue from cryptocurrency trading, donated $2 million.
Other major sponsors from the industry included Circle, Coinbase, Galaxy Digital, Kraken, Foris DAX (operator of Crypto.com), Ondo Finance, and Solana Labs, each contributing $1 million to the inauguration fund.
IOG Inc., the company behind Cardano, donated $250,000, while Joseph Lubin’s ConsenSys and NFT firm Yuga Labs each contributed $100,000.
Hayden Adams, founder of the decentralized exchange Uniswap, donated nearly $246,000.
During his campaign, Trump branded himself as “the crypto president”, promising to make the U.S. “the world capital of digital assets” and to globally protect the mining sector.
The politician received notable support from crypto entrepreneurs. Gemini founders Tyler and Cameron Winklevoss donated $1 million each in Bitcoin to his campaign. A similar amount, but “primarily in Ethereum,” was contributed by Kraken co-founder Jesse Powell.
As Trump returned to the White House, SEC Chairman SEC Gary Gensler resigned. In recent months, the agency decided to cease investigations or legal actions against several crypto companies. This list included some sponsors of the president’s inauguration fund, such as Coinbase, Robinhood, Ripple, ConsenSys, Uniswap, and Gemini.
On April 21, Paul Atkins was sworn in as the new head of the SEC. His nomination was put forward by Trump and approved by the Senate.